Chinese social media company YY launches Nasdaq IPO

The online social media platform provider is set to become the first Chinese company to list in the US since March, with a plan to raise up to $97.5 million.

YY, the provider of a communication social platform that engages users in real-time online group activities through voice, text and video, kicked off the roadshow yesterday for a US initial public offering. It is aiming to raise between $81.9 million and $97.5 million.

If successful, YY will be the first Chinese company to list in the US since Vipshop Holdings’ $72 million IPO in March, according to Dealogic. The online discount retailer listed...

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